Publix profits rise

in the second quarter despite the backlash over contributions to Republican Adam Putnam’s gubernatorial campaign.

Publix sales grew in the second quarter even as the company endured political protests over its campaign contributions to a pro-NRA candidate for Florida governor.

Publix attributed slower same-store sales growth to the timing of the Easter holiday, which was less in the first quarter this year compared with the second quarter in 2017.

Sales at existing Publix stores grew 1.7 percent in the first quarter compared with the same period the year before, down from a 3.2 percent pace last year. Publix said sales would have been up about 2.9 percent if Easter had come in the second quarter this year as it did last year.

Overall sales were $8.8 billion, a 4 percent increase from the second quarter of 2017, and net earnings were $616.2 million, compared with $495.1 million a year ago.

With the earnings report, Publix increased the value of its stock by about 2 percent to $42.55. Publix’s stock is privately traded and available only to employees and directors. A group of auditors determines the stock price quarterly based on Publix’s performance and that of comparable companies. The stock can only be bought and sold to Publix.

“Since the beginning of the year, our stock price has increased from $36.85 to $42.55, over 15 percent,” said a statement from Publix CEO and President Todd Jones. “Our associates deserve the credit for continuing to make us a leader in customer service.”

Sales through June were up 3.4 percent compared with the first six months of 2017.

Publix faced a backlash in May because of donations Republican gubernatorial candidate Adam Putnam, who declared himself to be a “proud NRA sellout.”

Some customers boycotted the stores, and there were instore protests organized in part by survivors of the Marjory Stoneman Douglas High shooting massacre in South Florida. In the aftermath, Publix decided to suspend all political contributions.

Publix did not address the impact of the protests in its earnings report, and a spokesman for the company did not respond to a request for comment.

“Our associates deserve the credit for continuing to make us a leader in customer service.” Publix CEO and President Todd Jones